EA Poised to Go Private in Record-Breaking $55 Billion Deal Led by Saudi Arabian Investment Fund

September 29, 2025 John Silver Comments

Electronic Arts, the publisher behind EA Sports FC, Apex Legends, and the long-running Madden NFL series, is set to leave the public markets. The company has reached an agreement to be acquired for roughly $55 billion by a bidding group led by Saudi Arabia’s Public Investment Fund (PIF) alongside tech-focused investor Silver Lake and Jared Kushner’s Affinity Partners.

Assuming regulators sign off, which looks very likely, the deal would mark the largest all-cash buyout ever mounted by private investors in the games industry (and the largest private equity deal of all time). For EA, it signals a shift from the quarterly pressures of Wall Street toward a deeper pool of patient capital, one that has been aggressively expanding its footprint in gaming and esports.

PIF is rolling over its existing 9.9 percent stake; the rest of the funds come from Silver Lake, Affinity Partners, and a debt package arranged by JPMorgan Chase.
EA’s headquarters will remain in Redwood City, California, and Andrew Wilson will stay on as CEO.
Closing is targeted for the first quarter of EA’s 2027 fiscal year, pending shareholder and regulatory approval. Once finalized, EA stock will be delisted.

EA has been public since 1989 and ranks among one of the largest video game companies in the world. Going private could give the company more flexibility to pursue long-term bets, whether that’s doubling down on live-service sports titles, experimenting with cloud gaming, or chasing emerging markets without the short-term scrutiny that comes with quarterly earnings calls.

The move also underscores PIF’s push to diversify Saudi Arabia’s economy and establish a foothold in interactive entertainment. In recent years, the fund has invested billions into Capcom, Nexon, Nintendo, and Embracer Group. Scooping up an entire Western publisher positions PIF as an even bigger force in gaming’s consolidation wave, echoing Microsoft’s acquisition of Activision Blizzard and Embracer’s spree of studio purchases.

Time will tell whether the acquisition proves profitable for PIF, but given EA's stagnant recent history, I have my doubts. EA hasn't had a major hit in some time, with the last big hit being Apex Legends back in early 2019. Core EA titles like their soccer and football games continue firing on all cylinders. Saudi Arabia isn't known for being particularly good at making prudent investment decisions. They've blown an incredible amount of money chasing eSports to little success and are currently funding a boondoggle mega project called Neom.